The waves never lie, though sometimes we read them wrong. (at most, wave 1 could see the boxed area before capsizing).
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As most times when a diagonal wave fails, it turns in a flat correction. It seems that the same here manifested for WTRH. Considering the possibility that we're in wave (c) within Wave 2, upside is likely nearby. Should the Wave 1 formation hold and no lower low is established, I'll remain bullish on this stock.
Is now the good opportunity to buy for the next wave? Technical thoughts ?
DigitalSurfTrading
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@izzypt, not a good time imo Izzy. I am not following the internal waves too closely at the moment however the Wave 2 formation doesn't seem to be complete as of yet. I expect it to come pretty close to the price point I have on my mark-up. Thinking long term, this is a great time to load up on shares. Alternatively, one could scalp the sizeable swings and then look for long opps towards the end of the formation. I'll be keeping my team up to date with all progressions on my website. It will likely be the next Scalper's Plan than we activate.
DigitalSurfTrading
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@izzypt, i kinda misspoke earlier, there is a scalp opportunity present however, bears are waiting near $2.08.
izzypt
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@Gumption334, I know it's hard to tell but do you think there's support @1.50$?
victormvf
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@izzypt, Sorry I'm late to the party. I like this one yet see a just a bit more to the downside. @Gumption334 Elliot Wave Analysis indicates such and I'm no expert yet if we stay below 1.40 for another bar on the 30 minute chart we will have broken support. Just showing my 30 minute chart and highlighting the lower end of the Bollinger Band. Likely I'd consider an entry if it could get a little closer to that area with the idea that we are real close to a bottom and the Wave 2 @Gumption334 references is at or near completion. Excellent questions on your part and all the best to you.
victormvf
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@Gumption334 - Starting to look tempting now at 1.23-1.25 today. Excuse the sloppy chart.